We have audited the accompanying Standalone financial statements of the Mehai Technology
Limited (“The Company”), which comprise the Balance Sheet as at 31st March 2025, the
statement of Profit & Loss, statement of changes in equity and the statement of Cash Flow for the
year then ended, and notes to the financial statements, including a summary of significant
accounting policies and other explanatory information.
In our opinion and to the best of our information and according to the explanations given to us, the
aforesaid financial statements give the information required by the Companies Act 2013 in the
manner so required and give a true and fair view in conformity with the accounting principles
generally accepted in India, of the state of affairs of the Company as at 31st March 2025, and its
Profit, changes in equity and its cash flows for the year ended on that date.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section
143(10) of the Companies Act, 2013. Our responsibilities under those Standards are further described in
the Auditor’s responsibilities for the audit of the financial Statements section of our report. We are
independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered
Accountants of India (ICAI) together with the ethical requirement that are relevant to our audit of the
Financial Statement under the provisions of the Act and the rules thereunder, and we have fulfilled our
ethical responsibilities in accordance with these requirements and the code of ethics.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis
for our opinion.
Key Audit Matters
Key Audit Matters are those matters that, in our professional judgment, were of most significance
in our audit of the standalone financial statement for the current period. These matters were
addressed in the context of our audit of standalone financial statement as a whole, and in forming
our opinion thereon, and we do not provide a separate opinion on these matters.
The Company’s Board of Directors is responsible for the preparation of the other information.
The other information comprises the information included in the Board's Report including
Annexure to the Board Report, Business Responsibility Report but does not include the financial
statements and our auditor’s report thereon.
Our opinion on the financial statements does not cover the other information and we do not
express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other
information and, in doing so, consider whether the other information is materially inconsistent
with the financial statements or our knowledge obtained during the course of our audit, or
otherwise appears to be materially misstated.
If, based on the work we have performed, we concluded that there is a material misstatement of
this other information; we are required to report that fact. We have nothing to report in this
regard.
Management’s Responsibility for the Financial Statements
The Company's Board of Directors is responsible for the matters stated in Section 134(5) of the
Companies Act, 2013 with respect to the preparation of the financial statements that give a true
and fair view of the financial position, financial performance and cash flows of the company in
accordance with the accounting principles generally accepted in India including the accounting
standards specified under section 133 of the Act read with rule 7 of Companies ( Accounts)
Rules, 2014. This responsibility also includes maintenance of adequate accounting records in
accordance with the provisions of the Act for safeguarding of the assets of the Company and for
preventing and detecting frauds and other irregularities; selection and application of appropriate
accounting policies; making judgments and estimates that are reasonable and prudent; and
design, implementation and maintenance of adequate internal financial controls, that were
operating effectively for ensuring the accuracy and completeness of accounting records, relevant
to the preparation and presentation of the financial statements that give a true and fair view and
are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is responsible for assessing the Company’s
ability to continue as a going concern, disclosing, as applicable, matters related to going concern
and using the going concern basis of accounting unless management either intends to liquidate
the Company or to cease operations, or has no realistic alternative but to do so.
The Board of Directors are also responsible for overseeing the company’s financial reporting
process.
Our objectives are to obtain reasonable assurance about whether the financial statements as a
whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s
report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a
guarantee that an audit conducted in accordance with SAs will always detect a material
misstatement when it exists. Misstatements can arise from fraud or error and are considered
material if, individually or in the aggregate, they could reasonably be expected to influence the
economic decisions of users taken on the basis of these financial statements.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain
professional skepticism throughout the audit. We also:
• Identify and assess the risks of material misstatement of the financial statements, whether
due to fraud or error, design and perform audit procedures responsive to those risks, and
obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion.
The risk of not detecting a material misstatement resulting from fraud is higher than for
one resulting from error, as fraud may involve collusion, forgery, intentional omissions,
misrepresentations, or the override of internal control.
• Obtain an understanding of internal financial controls relevant to the audit in order to
design audit procedures that are appropriate in the circumstances. Under section 143(3)(i)
of the Act, we are also responsible for expressing our opinion on whether the company
has adequate internal financial controls system in place and the operating effectiveness of
such controls.
• Evaluate the appropriateness of accounting policies used and the reasonableness of
accounting estimates and related disclosures made by management.
• Conclude on the appropriateness of management’s use of the going concern basis of
accounting and, based on the audit evidence obtained, whether a material uncertainty
exists related to events or conditions that may cast significant doubt on the Company’s
ability to continue as a going concern. If we conclude that a material uncertainty exists,
we are required to draw attention in our auditor’s report to the related disclosures in the
financial statements or, if such disclosures are inadequate, to modify our opinion. Our
conclusions are based on the audit evidence obtained up to the date of our auditor’s report.
However, future events or conditions may cause the Company to cease to continue as a
going concern.
• Evaluate the overall presentation, structure and content of the financial statements,
including the disclosures, and whether the financial statements represent the underlying
transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the
planned scope and timing of the audit and significant audit findings, including any significant
deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with
relevant ethical requirements regarding independence, and to communicate with them all
relationships and other matters that may reasonably be thought to bear on our independence, and
where applicable, related safeguards.
From the matters communicated with those charged with governance, we determine those
matters that were of most significance in the audit of the financial statements of the current period
and are therefore the key audit matters. We describe these matters in our auditor’s report unless
law or regulation precludes public disclosure about the matter or when, in extremely rare
circumstances, we determine that a matter should not be communicated in our report because the
adverse consequences of doing so would reasonably be expected to outweigh the public interest
benefits of such communication.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditor’s Report) Order, 2020 (“the Order”) issued by the
Central Government of India in terms of sub-section (11) of section 143 of the Act,2013. we give
in The “Annexure A”, a statement on the matters specified in theparagraph 3 and 4 of the order
to the extent applicable.
2. A) As required by section 143(3) of the Act, we report that:
a) We have sought and obtained all the information and explanations which to the best of
our knowledge and belief were necessary for the purposes of our audit.
b) In our opinion, proper books of account, as required by law have been kept by the
Company so far as it appears from our examination of those books.
c) The Balance Sheet, the Statement of Profit and Loss and the statement of Cash Flow dealt
with by this Report are in agreement with the relevant books of account.
d) In our opinion, the aforesaid financial statements comply with the accounting Standards
specified under section 133 of the Act read with Rule 7 of the Companies (Accounts)
Rules, 2014.
e) On the basis of written representations received from the directors, as on 31st March 2025
taken on record by the Board of Directors, none of the directors is disqualified as on 31st
March, 2025 from being appointed as a director in terms of Section 164(2) of the Companies
Act,2013.
f) With respect to the adequacy of the internal financial controls over financial reporting of
the company and the operating effectiveness of such controls, refer to our separate Report
in Annexure ‘B’. Our report expresses an unmodified opinion on the adequacy and
operating effectiveness of the Company's internal financial controls over financial
reporting.
A) With respect to the other matters to be included in the Auditor’s Report in accordance
with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to
the best of our information and according to the explanations given to us:
a) The Company have disclosed the pending litigations as at 31st March 2025 which
would impact its financial position.
b) The Company has made provisions as required under applicable law or accounting
standard for foreseeable losses; if any on long-term contracts including derivative
contracts.
c) There has been no need to transfer any amount which is required to be transferred, to
the Investor Education and Protection Fund by the Company.
d) i. The Management has represented that, to the best of its knowledge and belief, no
funds have been advanced or loaned or invested (either from borrowed funds or share
premium or any other sources or kind of funds) during the year by the Company to or
in any other persons or entities, including foreign entities (“Intermediaries”), with the
understanding, whether recorded in writing or otherwise, that the Intermediary shall:
• Directly or indirectly lend or invest in other persons or entities identified in any
manner whatsoever (“Ultimate Beneficiaries”) by or on behalf of Company or
• Provide any guarantee, security or the like to or on behalf of the Ultimate
Beneficiaries.
ii. The management has represented, that, to the best of its knowledge and belief, no
funds have been received by the company from any persons or entities (“Funding
Parties”), with the understanding, whether recorded in writing or otherwise, that
the company shall:
• Directly or indirectly, lend or invest in other persons or entities identified in any
manner whatsoever (“Ultimate Beneficiaries”) by or on behalf of the funding
party or
• Provide any guarantee, security or the like form or on behalf of the Ultimate
Beneficiaries; and
iii. Based on such audit procedures as considered reasonable and appropriate in the
circumstances, nothing has come to our notice that has caused us to believe that
representations under sub clause (d) (i) and (d) (ii) contain any material misstatement.
e) The Company has not declared or paid any dividend during the year.
B) With respect to the other matters to be included in the Auditor's Report in accordance with
the requirements of section 197(16) of the Act, as amended in our opinion and to the best of
our information and according to the explanations given to us, the remuneration paid by
the Company to its directors during the year is in accordance with the provisions of the Act.
C) Based on our examination, which include test checks, the Company has used accounting
software for maintaining its books of accounts which have a feature of recording audit trail
(edit log) facility and that have operated throughout the financial year for all relevant
transactions recorded in the software except for modifications, if any, made by certain users
having specific access to the accounting software. During the course of performing our
procedures, we did not notice any instance of audit trail feature being tampered with during
the period for which the audit trail feature was enabled. Additionally, the company has
preserved the audit trail as per the statutory requirements for record retention.
For M/s. Bijan Ghosh & Associates
(Chartered Accountants)
Firm’s Registration no.: 323214E
(Mr. Bijan Ghosh)
(Proprietor)
Membership No: 009491
UDIN: 25009491BMHYHN8718
Place: Kolkata
Date: 22.05.2025
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